Greater China Securities offers two main types of securities accounts tailored to meet the needs of different investors:
Cash Account: This type of account requires clients to pay the full amount of the securities they purchase. It is suitable for individual or joint account holders as well as corporate clients who prefer to trade without leverage, providing a straightforward way to manage investments.
Margin Account: Designed for those who wish to leverage their investment, a margin account allows clients to borrow funds from the brokerage to purchase securities. This can potentially enhance returns but also increases risk, making it suitable for more experienced investors or those with a higher risk tolerance.
Greater China Securities Fee Review
Greater China Securities offers a fee structure that covers a wide range of services.
Trading Commissions:
Trading fees are categorized based on the method of transaction execution. Electronic transactions incur a commission of 0.15% of the transaction amount, with a minimum charge of HK$80. For non-electronic transactions, the commission rises to 0.25% with a minimum fee of HK$100. This differentiation in fees reflects the additional handling required for non-electronic trades.
Regulatory Levies and Transaction Fees:
Investors are subject to several levies and fees mandated by regulatory bodies and the exchange. The Transaction Levy by the Securities and Futures Commission (SFC) is 0.0027% of the transaction amount. The AFRC Transaction Levy stands at 0.00015%, and the Trading Fee charged by the Hong Kong Exchange (HKEX) is 0.00565%. Additionally, Stamp Duty is applied at 0.10% of the transaction value, rounded up to the nearest dollar, underscoring the cost associated with regulatory compliance and operational handling on the exchange.
Physical Script and Settlement Services:
Fees related to physical securities handling include HK$5 per certificate or transfer deed for deposits and HK$5 per lot for withdrawals, with an additional HK$50 handling fee per stock. Settlement instructions carry a fee of 0.01% of the market value, with a minimum charge of HK$50, reflecting the administrative cost of processing physical documents and settlement operations.
Nominee Services and Corporate Actions:
This category includes various fees associated with managing securities held in nominee accounts and processing corporate actions. Scrip fees are HK$1.50 per board or odd lot, while dividend collection and handling fees are both set at 0.5% of the dividend amount, with minimum fees of HK$30 and HK$25, respectively. A charge of HK$50 applies to each rights issue entitlement event, covering the administrative efforts required for these transactions.
Account Operations:
Custody fees are waived, highlighting a benefit to account holders. IPO subscription incurs a fee of HK$100. Overdue interests on cash accounts are charged at the HSBC Prime rate plus 10%, and for margin accounts, the rate is the HSBC Prime plus 3%, which reflects the cost of financing. Statements by mail are available at HK$50 per month, indicating the additional cost for physical document handling and delivery.
Greater China Securities Trading Platform Review
Greater China Securities offers a trading platform called the Ayers Software Token, available for both iOS and Android devices. This platform enables users to execute and manage their trades conveniently using mobile devices, ensuring that clients can access the market and manage their investments on-the-go.
The availability of the platform on major mobile operating systems ensures broad accessibility, attracting a diverse client base with different technology preferences.
Customer Service
Greater China Securities Limited provides customer support from its office located at Room A3, 9/F, CKK Commercial Centre, 289 Hennessy Road, Wanchai, Hong Kong.
Clients can contact the firm through various channels for inquiries and support: by telephone at (852) 3977 3388, by fax at (852) 3977 3300, or via email at cs@gcsecurities.com.hk.
This ensures that both current and prospective clients can easily access assistance for account opening, trading inquiries, and other service-related issues efficiently, facilitating a good customer experience.
Conclusion
Greater China Securities Limited is a well-established brokerage firm based in Hong Kong, offering a broad range of securities trading services.
With a focus on both electronic and non-electronic trading platforms, the firm meets diverse client needs with competitive fees, robust customer support, and easy access to trading tools.
Operating from the centrally located Wanchai district, Greater China Securities is known for its reliable service and market access, making it a preferred choice for investors seeking efficient and effective trading solutions.
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